Indian Oil Corp to export 5,000 tonnes of PX

04 January 2008 10:44  [Source: ICIS news]

MUMBAI (ICIS news)--Indian Oil Corp (IOC) has issued an export tender for the sale of 5,000 tonnes of paraxylene (PX) from 24 January to 3 February (PX), it said late on Thursday.

Offers were invited for the export sale of PX on an FOB (free on board) Mundra port basis, it added. Mundra is in Gujarat state on the western Indian coast.

Only parties that have traded at least 25,000 tonnes/year of PX in the calendar year 2007 would be entitled to bid, IOC said.

The cargo would be priced in US dollars/tonne on a variable basis, determined as the simple average of the mean of the weekly quotations of Asian PX, it added.

An IOC official had told ICIS news in November 2007 that it would export its spare PX material, as the integrated purified terephthalic acid (PTA) unit with this line would be shut down for three weeks starting 25 December.

By: Divya Chowdhury
+65 6780 4359

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